Refers to countries that are less economically developed and industrialized compared to the Global North
Third World
Refers to countries that did not belong to either the capitalist First World or communist Second World during the Cold War
How a new conception of global relations emerged from the experiences of Latin American Countries
1. Dependency theory
2. World System Theory
Dependency theory
Resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former
Underdevelopment is mainly caused by the peripheral position of affected countries in the world economy
World System Theory
Established on a three-level hierarchy consisting of core, periphery, and semi-periphery areas
Core countries dominate and exploit the peripheral countries for labor and raw materials
Peripheral countries are dependent on core countries for capital
Newly discovered lands outside Europe were divided into two - the west belonging to the Crown of Castile (now part of Spain) and the east belonging to the Portuguese Empire
1494
Treaty of Tordesillas - agreements between King Ferdinand II of Aragon and Queen Isabella I of Castile and King John II of Portugal establishing a new demarcation line between the two crowns
1494
Cold War
Ongoing political rivalry between the United States and the Soviet Union and their respective allies that developed after World War II
First World
Capitalist, industrialized, democratic countries allied with the US
Second World
Industrialized, communist countries of the Soviet Union and its Eastern European satellites
Third World
Countries that did not belong to either the First World or Second World, often referring to poor, underdeveloped countries
Global North
Developed, industrialized countries
Global South
Developing countries, often in Africa, Latin America, and Asia
Economic Development
Advancement in technology, transition from agriculture to industry, and improvement in living standards
What is included in the Global North
G8 countries
US
Canada
EU member states
Israel
Japan
Singapore
South Korea
Australia
New Zealand
4 of the 5 permanent UN Security Council members (excluding China)
What is included in the Global South
African countries
Latin American countries
Developing countries in Asia, including the Middle East
BRIC countries (Brazil, India, China)
GDP per capita
A tally of all goods and services produced in a country in one year, expressed in US dollars, divided by the country's population
Unofficial threshold for a developed economy is a GDP per capita of at least $12,000, although some economists believe $25,000 is more realistic
What makes a nation part of the "Third World"
High poverty
High child mortality
Low economic and educational development
Low self-consumption of natural resources
Vulnerable to exploitation by large corporations and industrialized nations
Less technological advancement
Economies dependent on developed countries
Unstable governments
High fertility rates
High gender-related violence
Lack of middle class
Huge impoverished population and small elite upper class
Difference in political, economic and geographic makeup of countries complicates the idea of a monolithic Global South
Globalization has challenged the notion of two economic spheres (North and South)
Bottom 60 nations of the Global South were thought to be gaining on the North in terms of income, diversification, and participation in the world market
International free trade and unhindered capital flows across countries could lead to a contraction in the North-South divide
Some countries in the Global South are developing high levels of South-South aid
The UN has established its role in diminishing the divide between North and South through the Millennium Development Goals
Latin America
A group of countries in South America that share the same language and culture, linked to their common colonizers Spain and Portugal
Two economic groups in Latin America
Pacific Alliance - goal is participatory integration for free mobility in trade
Mercosur - goal is competitive integration of national economies into international market